The recent discovery of natural gas in the exclusive economic zone (EEZ) around Cyprus creates a promising future for the island. Cyprus is suffering from high unemployment levels and this find could create up to 4,000 jobs.
The find has prompted the Cypriot government to promote a series of measures to reinforce growth. They have already started carrying out a study into the employment needs and development of human resources that are connected to the exploitation of natural gas according to a Government spokesperson.
The survey is aimed at spotting the needs in human resources, knowledge and expertise in sectors and professions that are directly or indirectly related to the management of natural gas. It would be carried out in five stages and is expected to be complete by the end of 2012.
The first phase is charting successful practices that are followed in other countries, such as Israel, Norway and Australia. This will help form a methodology, once the relevant consultations have taken place in Cyprus.
The study indicated that around 4,000 people would have to be employed to develop the facilities needed to handle the gas but fewer people would be needed once systems are up and running.
The Cyprus gas might not become a huge player on the world stage, but it might help ease the unemployment levels. The only danger of this find is that a lot of people will be flown in as expertise in extracting the gas will not be available locally. The best thing the Cyprus government can do is to make sure Cypriots are trained properly to take advantage of this opportunity.